Returns to public investment

Michael Pollak mpollak at panix.com
Mon Mar 13 22:17:27 PST 2000


Max, on Doug's show a couple of weeks ago, you said that the only rationale for paying down the debt was if we thought that there was no public goods we could invest in that would bring a better return than 6%. Which sounded like an open and shut case -- until I began to think, how do you measure the returns to public investment? If, say, you convinced Al Gore to put 30 billion into education or housing or health care, how and when would you be able to say that it had returned more than 6% annually?

Michael

__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com



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